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Central bank: 15 Arab and foreign banks opened branches in Iraq since the beginning of this year

Author: ASJ Editor: BK, BS 04/04/2014 2:18 p.m.number of readings: 54

Long-Presse / Baghdad

Revealed the CBI, on Wednesday, announced the opening of 15 branches of the Arab banks or foreign country during the last three months of 2014, the current, as a result of his policy of openness to the world, noting that pulling off one branch of the Arab bank for violating the conditions laid down in the laws.

The central bank said in response to questions was sent by (long-Presse) to his administration, "The Bank approved during the first three months of this year, the opening of 15 branches of foreign banks or Arab after granted leave by the Directors of the Bank under Law No. 94 of 2004", He pointed out that "the policy of opening up to support and encourage international banks to open branches in Iraq or participate in the capital of local banks, as this has a positive impact on the national economy."

The central bank added that, "pull off one branch is ABC, because of his violation of the conditions stipulated by the laws of the bank."

The governor of the Iraqi Central Bank and the Agency, Abdul-Basit Turki, had threatened during a financial conference held in Dubai, two months ago, the withdrawal of licenses of five banks operating in Iraq (unspecified), unless they increase their capital.

It consists of the banking system in Iraq from 43 banks, as well as the central bank, and are distributed according to government ownership between seven and 30 waged, including seven Islamic, as well as six foreign banks.